GE Continues to Diversify Into Energy -- Not a Bakken Story

I first posted comments about GE's rapid diversification into oil and gas some weeks ago. That observation has now become the lede in stories about GE investments:

General Electric Co. said Tuesday it will spend $3.2 billion for a controlling stake in French equipment developer Converteam as it continues to position itself as a major player in what's expected to be a 20-year boom in oil and natural gas demand.

Converteam, which serves a variety of industries including oil and gas companies, is the latest of $11 billion in acquisitions by GE's energy business. GE also has acquired Dresser Inc., Wellstream Holdings, Lineage Power Holdings and Well Support in the past six months.

The article goes on to describe GE's bullishness on natural gas.

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I post about GE's diversification into energy for a couple of reasons. First, it supports my view that natural gas will eventually be a big story for investors. Second, I can't think of anyone who would have more insight into future government policies regarding energy than the president's economic czar. The president's economic czar is GE's CEO. Connecting the dots could be very profitable.